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Why Fintech is an Important Ingredient in Any Smart City Ambition
Smart cities They were a popular term that has since lost a bit of its steam among the general public, and yet, with the dramatic reduction of Internet-of-Things (IoT) prices last decade, the smart city initiative is now a gleam in many government’s eyes.According to the International Data Corporation, global smart city spending is set to accelerate from US$81 billion in 2018 to US$158 billion by 2022.A smart city here refers to a city that utilises IT and Internet-of-Things (IoT) technology to enhance the quality and performance of urban cities, in areas like energy, transportation, utilities, to reduce wastage, resource consumption, and overall costs. Some strategic priorities in smart city building are: sustainable planning and administration, intelligent transportation, and data-driven public safety.
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